... then what?
The decline from the all time high is a 3 wave structure, therefore I see 3 possible wave counts:
1 - My main count. We are going to correct at least 105% of the decline, and we'll do it with a 3 wave structure, so that then a crash of circa 48% unfolds to complete the expanded flat pattern and take the 2016 low. Then, we'll rise for circa 21 years.
2 - Alternate #1. We're in a primary degree combination or triangle, or combination with a triangle as the last part of it, and if so, a new high B wave could also happen. I consider this alternate because I don't know what is the very long term "correct" (highest probability) wave count (I didn't try to count the historical data...), so maybe the current all time high could be the end of a 3rd wave in primary degree, opening the chance for a triangle 4th wave or combination with a triangle as the last leg...
3 - Alternate #2. Well, this one is something... serious. The current double zigzag decline is the first wave in intermediate degree of a leading diagonal in primary degree... Being that diagonal the A wave of a zigzag in cycle degree, it would allow a total correction to at least the 1100 price level, thus representing a 61.8% crash...
4 - Alternate #3. None of the above...
The decline from the all time high is a 3 wave structure, therefore I see 3 possible wave counts:
1 - My main count. We are going to correct at least 105% of the decline, and we'll do it with a 3 wave structure, so that then a crash of circa 48% unfolds to complete the expanded flat pattern and take the 2016 low. Then, we'll rise for circa 21 years.
2 - Alternate #1. We're in a primary degree combination or triangle, or combination with a triangle as the last part of it, and if so, a new high B wave could also happen. I consider this alternate because I don't know what is the very long term "correct" (highest probability) wave count (I didn't try to count the historical data...), so maybe the current all time high could be the end of a 3rd wave in primary degree, opening the chance for a triangle 4th wave or combination with a triangle as the last leg...
3 - Alternate #2. Well, this one is something... serious. The current double zigzag decline is the first wave in intermediate degree of a leading diagonal in primary degree... Being that diagonal the A wave of a zigzag in cycle degree, it would allow a total correction to at least the 1100 price level, thus representing a 61.8% crash...
4 - Alternate #3. None of the above...
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mikeoakster
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